Dogecoin is trading at $0.162 and holding above the $0.16 support level after recent price drops. The meme coin is forming a symmetrical triangle pattern on daily charts that technical analysts are watching closely.
The pattern is approaching its apex. This compression point typically leads to increased volatility and potential breakouts in either direction.
The broader crypto market gained 1.44% in the last 24 hours. This comes after a weekly decline of 7.98%.
Dogecoin currently sits near the lower boundary of the triangle formation. This zone is often viewed as a strong area for potential rebounds if buying pressure increases.
$DOGE is sitting right on the lower trendline of the symmetrical triangle.
This area has acted as a strong floor for months, and buying pressure is starting to build.
A clean bounce here could send $DOGE soon. pic.twitter.com/OoghaTx43A
— Crypto King (@CryptoKing4Ever) November 6, 2025
Technical analysts say symmetrical triangles often precede large price movements. A break above the upper trendline could push Dogecoin toward $0.35 or higher.
The TD Sequential indicator recently flashed a bullish signal for DOGE. Crypto analyst Ali pointed out this indicator suggests a possible local bottom has formed. The pattern on TradingView charts shows signs of a reversal that could indicate a short-term upward move.
TD flashes buy on Dogecoin $DOGE. Local bottom might be in! pic.twitter.com/g84k4FtO5d
— Ali (@ali_charts) November 5, 2025
Large Dogecoin holders sold over one billion tokens in the past week. This significant selling by major investors has put downward pressure on the price despite optimism from smaller traders.
The 4-hour chart shows sellers maintaining slight control. Buying momentum remains weak even as recovery attempts continue.
If Dogecoin drops below $0.15, the next support level sits near $0.14. On the upside, reclaiming $0.20 could open the path toward $0.35.
The Moving Average Convergence Divergence indicator shows a slight bullish crossover. However, histogram bars remain low, indicating weak upward momentum. The Average Directional Index stands at approximately 51, showing a strong trend is in place.
Bitwise updated its filing for a spot Dogecoin ETF on November 7. The company removed a delaying amendment from its S-1 registration using Section 8(a) of the Securities Act.
Looks like Bitwise is doing the 8(a) move for their spot Dogecoin ETF, which basically means they plan on going effective in 20 days barring an intervention. pic.twitter.com/y8jyxbYKXQ
— Eric Balchunas (@EricBalchunas) November 6, 2025
Bloomberg ETF analyst Eric Balchunas noted the change on social media. The filing method means the ETF will automatically become effective after 20 days unless the SEC takes action to stop it.
This differs from the standard ETF approval process. The SEC does not need to issue formal approval if the 20-day period expires without intervention.
The earliest effective date would be around November 26 if the timeline holds. The ETF would hold actual Dogecoin tokens with custody provided by Coinbase. Cash assets would be managed by BNY Mellon.
The product is designed to track DOGE’s spot price using the CF Dogecoin-Dollar Settlement Price. The listing venue would be NYSE Arca. The ticker symbol and management fee have not been announced yet.
The REX-Osprey DOGE ETF launched in September 2025. More issuers have filed applications with revised terms and lower fees. Bloomberg analysts currently estimate the odds of multiple Dogecoin ETFs trading by year-end above 90 percent, given the SEC’s more open stance on single-asset crypto products.
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